KaszeK Ventures led a US$7.5m Series A investment in Tienda Pago, a provider of short-term working capital for small businesses in Mexico and Peru, with participation from new investors QED Investors and Oikocredit, and existing investors Accion Venture Lab and Agrega Partners.
(Accion) Latin American fintech startup Tienda Pago announced today the close of its $7.5 million Series A round led by KaszeK Ventures, with new investors QED Investors and Oikocredit, and follow-on contributions from existing investors Accion Venture Lab and Agrega Partners.
Operating in Mexico and Peru, Tienda Pago is a lender that provides small store owners with very short-term working capital to fund inventory purchases through a mobile platform. Tienda Pago has a unique model in which it partners with major fast-moving consumer goods (FMCGs) distributors that service these stores, paying the distributors directly for inventory purchases delivered to the small store client. The shop owner then re-pays Tienda Pago as they generate cash from selling the inventory. This arrangement provides underserved businesses with a creative, secure, and efficient way to expand their inventory and product variety, increase revenue and earnings, and build their credit history. (Read more…)